Software-defined Planet with Internet of Things

We are at the threshold of a powerful revolution; the Internet of Things (IoT). McKinsey Global Institute reports that IoT business revenue will reach $6.2 trillion by 2025.

IoT brings the promise of digitizing almost all interactions between machines and humans with the potential to redefine businesses in ways never imagined and radically enrich and transform our lives.

Early signs of this transformation are already evident. IoT is made possible by embedded sensors which transmit digestible data in real-time from a growing number of devices; estimated to reach 26 billion devices by 2020. The ability to transfer data, ingest it, store it, and analyze it to draw real time inferences is what will make IoT so compelling to businesses.

Still, IoT presents challenges. Privacy and security of data, filtering out signal from noise, transmitting and storing such massive amounts of data, and analyzing them real time requires not only robust business models but also requires building comprehensive technological solutions which address the various aspects described above.

In this Knowledge Sharing article—awarded 3rd Place in the 2015 Knowledge Sharing Competition—Sumit Nigam discusses what IoT really is, the potential it holds, key challenges that businesses will face in leveraging it, and pitfalls they must guard against. He also explores some unique ways in which it would impact our lives and discusses some interesting use cases.

Read the full article here.